Pfizer Study Success Helps Shares Buck Dow Selloff

By Ben Levisohn

Every stock in the Dow Jones Industrial Average is down today, save one–Pfizer (PFE), which is not only up, but up a sizable amount.

Bloomberg

Shares of Pfizer have gained 3% to $31.30 today at 11:32 a.m. After that, the next best performing are McDonald’s (MCD), which has dropped 0.5% to $93.68, Procter & Gamble (PG), which has fallen 0.5 to $76.21, and E I Du Pont De Nemours (DD), which has declined 3% to $60.80.

The very positive tone of today’s press release [from Pfizer] on the positive palbociclib data on the Ph2 PALOMA-1 trial coupled with recent positive comments from competitor Novartis (NVS) makes us incrementally more upbeat over the potential for accelerated approval for palbociclib in 2015, potentially as part of a rolling NDA, thereby widening [Pfizer's] competitive lead time over Novartis. We identified palbociclib as a $5bn opportunity…

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Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.